Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Amnesty: Civil society under massive crackdown in Turkey, Gülen movement main target

An annual report released by Amnesty International on Wednesday has said a failed coup attempt in July prompted a massive crackdown on civil society in Turkey and that the faith-based Gülen movement has been the main target.

The turmoil in Turkey – The terror threat is real and is made worse by Erdogan’s paranoia

Mr. Erdogan’s own Islamist and autocratic tendencies have also compounded the country’s vulnerability. Since an attempted coup last summer, the President has purged thousands of police officers and soldiers, and the resulting talent and resources gap may have damaged Ankara’s counterterror capabilities.

Pakistan – Of friends and us

A student at the Pak-Turk School in Lahore was perplexed at the abrupt deportation of all Turkish teachers at the request of the Turkish President Erdogan. “The Pak-Turk School changed my outlook in life. The teachers were more than simply teachers, they were mentors and helped students in all aspects of life,” this student exclaimed. “Why are they kicking out my teachers who have done so much for my country?” he wondered.

Minister: Turkey confiscated $4 bln worth of Gülenist property

Some TL 12 billion (about $4 billion) in property has been transferred to the Treasury as part of an investigation into the Gülen movement, said Minister for Environment and Urbanization Mehmet Özhaseki on Thursday. Immediately after the putsch, the government along with Erdoğan pinned the blame on the Gülen movement without credible evidence.

Foreign journalists baffled by gov’t decision to shut down prep schools

SEVGİ AKARÇEŞME, İSTANBUL Representatives of foreign media outlets in İstanbul had a difficult time on Tuesday understanding the rationale behind the government’s decision to close private prep schools across Turkey. The Journalists’ and Writers Foundation’s (GYV) Medialog Platform’s 26th meeting of the “Covering Turkey” seminar series held in İstanbul on Tuesday addressed a highly debated […]

Ahmet Şık’s book and Ergenekon’s media campaign (3)

Emre Uslu, Sunday January 1, 2012 In a previous article I examined the media campaign against the Ergenekon trials and discussed Ahmet Şık. As I mentioned, the impact of Şık’s arrest was exaggerated because he was allegedly writing a book criticizing the Gülen movement’s influence in the police force, and his arrest was to prevent […]

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Albania Ignores Erdogan’s Tirade Against Gulen

Journalists and Writers Foundation to hold peace conference at UN

Bank Asya shares surge after Turkish election results

Synagogue hosts a night of Muslim-Jewish harmony

‘I am just Fethullah the son of Ramiz’

Turkish charities in Somalia for long haul

GYV: PM’s discriminatory rhetoric undermines social peace

Copyright 2026 Hizmet News